Vijay Mallya’s claim for repossessing London house rejected by UK High Court

The Hush Post|07:05 pm| 1-min-read
The High Court in London has ruled in favour of Swiss banking giant UBS to take possession of Vijay Mallya’s Central London house. All of Mallya’s defence claims for repossession order were rejected and the final hearing will take place in May 2019, ANI reported.
UBS Group had given a 20.4 million-pound ($26.6 million) mortgage loan to former billionaire Vijay Mallya’s London house, which overlooks London Regent’s Park.
The bank had sought possession of the property, which Mallya used as a family home.
Mallya ‘s extradition case will also come up in December. The High Court has ruled in another extradition case regarding an Indian bookie that Tihar jail in India poses no thread to extradites.
The source of his global legal problems are more than 1 billion pounds ($1.3 billion) in loans that he took out for his now defunct Kingfisher Airlines. Disputes over the loans led to civil lawsuits in India and the UK as well as criminal fraud charges.
62-yr-old Mallya was arrested in London in April 2017.
The house is in an area known for some of “the most cherished addresses in London,” Trevor Abrahmsohn, a London-based real estate agent, had told mediapersons earlier.

The Hush Post | 7:06 pm | One-minute read |
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